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Shell Sells Its Stake in New Zealand Gas Field

Deal comes as company looks to sell remaining assets in the country

By

Ben Collins

April 5, 2017 9:55 p.m. ET

WELLINGTON, New Zealand—Royal Dutch Shell PLC has taken a step toward an exit from its New Zealand assets with a deal to sell its 50% stake in a natural-gas field to its local venture partner, Todd Energy.

The agreement will also see Shell take full control of a joint-venture company that operates two further gas ventures in New Zealand, simplifying Shell’s operating structure as it looks to offload the assets. Financial terms...